623 W Commerce Ave, Gilbert, AZ 85233

Single-Tenant Industrial · Gilbert · Phoenix metro, AZ

One of 166 reachable single-tenant industrial buildings in Gilbert. Larger than 9% of single-tenant industrial buildings in Gilbert (median 14,080 SF), derived from assessor records.

County gross building area
5,860 SF, Maricopa County Assessor
Lot size
31,809 SF, Maricopa County Assessor
Year built
1980, Maricopa County Assessor
Stories
1, Maricopa County Assessor
Predominant use
Multiuse Or Miscellaneous Industrial, Maricopa County Assessor
Assessed value
$1,072,300, per the Maricopa County Assessor (not a market appraisal)
Assessed value per building SF
$182.99/SF, derived from assessor records
Building area / lot
0.18, derived from assessor records
Vintage
1980s vintage
County use code
MULTIUSE OR MISCELLANEOUS INDUSTRIAL

Nearby comparable buildings

Same building type, by distance. Assessor facts only; not an opinion of value.

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Sale history and market context

MakeMe Estimate: $1.22M (estimated market value), with a likely range of $972K to $1.44M (half of recent verified sales in this segment landed inside that range). Computed as the county's full cash value of $1,072,300 times a 1.13 market ratio, measured from 3891 verified arm's-length sale prices vs county values (single-tenant industrial sales in Gilbert, through 2026-06-29). Not an appraisal. How this estimate works.

lower confidence: 5 comparable sales within 3 miles; nearest 0.2 mi. This property type carries wider measured error; treat the estimate as a starting point. Recent sale check: this building sold for $1,000,000 in 2025; the estimate is about 22% apart. Treat the recorded trade as strong evidence alongside the model.

Comparable sales used as evidence

Recorded arm's-length sales of similar buildings nearby; nearer and more recent sales rank first. Buyer and seller names are withheld. Get this data via API.

Market context: Industrial in Gilbert

median verified sale $236.69/SF over the trailing 24 months; 14 sales in the last 12 months and 32 in 24 (newest verified sale 2026-03); the middle 80% of recent sales traded at 0.99x to 1.50x their county full cash value, median 1.29x (32 sales with usable county values).

  • 2022: $204.46/SF median (13 sales)
  • 2023: $202.45/SF median (11 sales)
  • 2024: $240.18/SF median (17 sales)
  • 2025: $170.65/SF median (14 sales)

This estimate sits at 1.13x county full cash value, the 31st percentile of those recent sale premiums.

Computed from 198 verified arm's-length sales in Maricopa County public records (32 in the trailing 24 months). Free public records. Not an appraisal.

Last sold: 2025-12-01 for $1,000,000 (recorded arm's-length sale).

Current ownership dates to 2025 per recorded transfers.

Source: Maricopa County recorded sales extract; buyer and seller shown only when a company or organization. Individual names are withheld.

Value over time

$0$500K$1M$1.5M202520262027Last sold $1M · 2025$1.22M$1.07MCounty assessed valueRecorded sale

Dark line: county assessed value per Maricopa County tax rolls. Diamonds: recorded arm's-length sales.

Land, site, and value history

Assessed value moved from $1,098,900 (2026) to $1,072,300 (2027), down 2% over 1 years, per county tax rolls. The 2027 roll splits $1,072,300 into $334,300 land and $738,000 improvements.